Manmohan Singh: The Visionary Behind India’s Economic Transformation Passes Away at 92

New Delhi, December 26, 2024 — Former Prime Minister Manmohan Singh, a towering figure in Indian politics and the architect of India’s economic reforms, passed away at the age of 92. Singh, who was undergoing treatment at AIIMS Delhi, succumbed to age-related health issues on Thursday evening. His demise marks the end of an era, leaving behind a legacy that reshaped India’s economic and social fabric.

A Remarkable Journey from Humble Beginnings

Born on September 26, 1932, in Gah village, now in Pakistan’s Punjab province, Manmohan Singh rose from humble beginnings to become one of India’s most celebrated leaders. After completing his early education in Punjab, Singh pursued higher studies at the University of Cambridge, where he earned a First Class Honours degree in Economics. He later obtained a D.Phil in Economics from Nuffield College, Oxford, cementing his place as one of the finest economic minds of his generation.

Singh’s academic brilliance led him to prominent roles in global and national institutions. He worked as an economist at the United Nations in the 1960s and served as Chief Economic Advisor to the Government of India. His tenure as Governor of the Reserve Bank of India (1982–1985) and Deputy Chairman of the Planning Commission further showcased his ability to handle complex economic challenges with precision and insight.

The Visionary Architect of Economic Reforms

Manmohan Singh will forever be remembered for his tenure as Finance Minister in P.V. Narasimha Rao’s government, during which he spearheaded the landmark economic liberalization of 1991. At a time when India faced a severe balance of payments crisis, Singh’s bold reforms opened up the economy, dismantled the license raj, and encouraged foreign investment. These measures not only stabilized the economy but also unleashed a period of unprecedented growth, paving the way for India to become a global economic powerhouse.

In his now-iconic budget speech of 1991, Singh declared, “No power on Earth can stop an idea whose time has come,” signaling a new era of economic opportunity for millions of Indians. The reforms included reducing import tariffs, deregulating industries, and welcoming foreign investments, which collectively redefined India’s economic landscape.

A Decade of Leadership as Prime Minister

As India’s 13th Prime Minister, Singh served two consecutive terms from 2004 to 2014. His tenure was marked by ambitious social welfare initiatives, including the National Rural Employment Guarantee Act (NREGA), the Right to Information Act (RTI), and the expansion of educational opportunities under the Right to Education Act. These programs reflected Singh’s vision of inclusive growth and his commitment to improving the lives of India’s marginalized communities.

Under Singh’s leadership, India’s economy grew at an average annual rate of 7.7%, becoming one of the fastest-growing economies globally. Singh’s government also signed the historic India-U.S. Civil Nuclear Agreement in 2008, a landmark deal that ended decades of nuclear isolation and opened avenues for energy cooperation. His steady and composed leadership during the 2008 global financial crisis ensured that India’s economy remained resilient, earning him global recognition and respect.

Nation and World Pay Tribute

Tributes have poured in from across the political spectrum, with leaders and citizens alike mourning the loss of a statesman known for his integrity, humility, and intellect. Prime Minister Narendra Modi called Singh “one of India’s most distinguished leaders,” while Congress President Mallikarjun Kharge lauded his unwavering commitment to the nation’s development.

“Dr. Singh’s contributions to India’s economic policy and social welfare will continue to inspire generations,” said former Congress President Sonia Gandhi. Rahul Gandhi remembered Singh as “the father of India’s economic reforms” and praised his vision for a self-reliant and inclusive India.

International leaders, including former U.S. President Barack Obama and UK Prime Minister Rishi Sunak, also expressed their condolences. Obama, who worked closely with Singh during his presidency, described him as “a man of extraordinary wisdom and grace.” French President Emmanuel Macron and German Chancellor Olaf Scholz also highlighted Singh’s role in fostering strong bilateral ties and advancing India’s global stature.

A Legacy Etched in History

Manmohan Singh’s life and career exemplified the values of integrity, hard work, and a relentless pursuit of excellence. Often described as a “reluctant politician,” Singh’s deep understanding of economics and governance made him an exceptional leader in a world often driven by rhetoric.

Beyond his roles in government, Singh authored several influential papers and books on economics, offering valuable insights into India’s developmental challenges and opportunities. Even after retiring from active politics, his wisdom and expertise continued to be sought after by policymakers, institutions, and universities worldwide.

As the nation bids farewell to this visionary leader, his legacy of economic reforms, social welfare, and ethical leadership remains a guiding light for future generations. His contributions will forever be etched in the annals of Indian history, inspiring millions to dream of a better and more prosperous future.